Banking & Finance

The moment you become an NRI, your regular savings account is technically no longer valid. Three types of accounts replace it — each with a very specific job.

NRE vs NRO vs FCNR

ఖాతాల పోలిక

	NRE	NRO	FCNR
Full form	Non-Resident External	Non-Resident Ordinary	Foreign Currency Non-Resident
Currency held	Indian Rupees (INR)	Indian Rupees (INR)	Foreign currency (USD, GBP, AUD, AED, etc.)
Source of funds	Foreign income only	Indian income (rent, dividends) + foreign	Foreign income only
Repatriation	Fully repatriable (principal + interest)	Up to USD 1M/year, with paperwork	Fully repatriable
Taxation in India	Interest is tax-free	Interest is taxable (TDS applies)	Interest is tax-free
Exchange-rate risk	Yes (rupee)	Yes (rupee)	No — held in foreign currency
Best for	Parking foreign salary in India	Managing Indian income	Fixed deposits without FX risk

PAN card for NRIs

NRIల కోసం పాన్ కార్డు

A PAN (Permanent Account Number) is required to open any NRI account, invest in Indian mutual funds or stocks, buy property, or file taxes. NRIs apply using Form 49A (Indian citizens) or Form 49AA (foreign citizens / OCI) via NSDL or UTIITSL (Note: UTIITSL may only be accessible from within India). It can be delivered to your foreign address.

Remittances

డబ్బు పంపడం

Sending money to India (into NRE / NRO) is unrestricted. Sending money out of India from an NRO account is capped at USD 1 million per financial year, and requires Forms 15CA and 15CB from a Chartered Accountant. NRE and FCNR balances remain fully repatriable without limit. See RBI for FEMA and repatriation rules.

DTAA basics

డబుల్ టాక్స్ ఒప్పందం (DTAA)

A Double Taxation Avoidance Agreement ensures the same income isn’t taxed in both India and your country of residence. India has DTAAs with the USA, UK, Australia, UAE, Canada, Singapore and 90+ others. Practically: interest on NRO deposits is taxed in India, and you claim credit for that tax while filing in your home country (or vice versa, depending on the treaty).